PORTLAND, OR—Oregon lawmakers are considering two measures designed to ease the way for development of large industrial properties.
State Rep. Tobias Read, a Democrat who represents Beaverton, is sponsoring HB 2284 and HB 2285, which would offer loans and grants to help developers and public agencies get big parcels of land shovel-ready, the Portland Business Journal reports.
HB 2284 would offer forgivable loans of up to half of preparation costs or projected income taxes, whichever is lower, to upgrade properties 25 acres or larger in urban areas and 15 acres or larger in rural areas. The money would help pay for acquisitions; upgrades to roads, water and sewer systems; and planning and engineering.
HB 2285 would offer grants to help private parties and public agencies create detailed development plans for industrial land.
Read said he has gotten a lot of support for the bills. “People really recognize that having industrial land that's ready for development is vital,” he said.
Click Portland Business Journal to read the full story.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
